"The world is at a tipping point. Let's not fool ourselves that unrestrained growth is coming back. Economic growth is still stagnant," ITUC General Secretary Sarah Burrow said at the World Economic Forum in Switzerland.
Burrow cited the new downgraded forecast for global growth published on Tuesday by the International Monetary Fund.
"For working people around the world unemployment is still at an economic high. It is unbelievable, that social tragedy…And nobody yet has a solution," she added.
After years of grappling for economic growth, there is still no solution to unemployment, while the wealth of the world’s richest 1 percent continues to equal that of all the rest, the ITUC chief said, citing Oxfam data.
The international justice and poverty confederation Oxfam estimates that just 62 individuals have wealth equal to that of 3.6 billion people.
